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Check my numbers please

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beanie7132
Frequent Contributor

Check my numbers please

How does this look?

 

USDA guaranteed

 

Purchase price: 161,900

Loan Amoutn: 165,204

 

Interest rate: 4.5% - we are 90 days out from closing. Its a new build

 

Appraisal - 500.00

Credit Report - 14.00

Processing - 150.00

Tax Cert - 87.00

Underwriting - 700.00

Wire Transfer- 30.00

Flood Cert - 8.50

Settlement - 425.00

Title Search - 250.00

Lenders title insurance - 572.00

Owners title insurance - 100.00

Recording - 35.00

MERS Registration - 11.95

Imaging fee - 17.95

USDA Guar Fee - 3,304.00

 

Lender Rebate - (2,890.00)

Message 1 of 6
5 REPLIES 5
ShanetheMortgageMan
Super Contributor

Re: Check my numbers please

Your scores?

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 2 of 6
Peter1142
Established Contributor

Re: Check my numbers please


@beanie7132 wrote:

How does this look?

 

USDA guaranteed

 

Purchase price: 161,900

Loan Amoutn: 165,204

 

Interest rate: 4.5% - we are 90 days out from closing. Its a new build

 

Appraisal - 500.00

Credit Report - 14.00

Processing - 150.00

Tax Cert - 87.00

Underwriting - 700.00

Wire Transfer- 30.00

Flood Cert - 8.50

Settlement - 425.00

Title Search - 250.00

Lenders title insurance - 572.00

Owners title insurance - 100.00

Recording - 35.00

MERS Registration - 11.95

Imaging fee - 17.95

USDA Guar Fee - 3,304.00

 

Lender Rebate - (2,890.00)


 

What about prepaid interest, bank attorney, buyer's attorney (I assume the attorneys are still required for new build?), state transfer taxes (not sure what applies to new build in your state), 1 year homeowner's insurance, escrows, recording charges, survey if required.

 

My closing costs in NY on $250k purchase were some-odd $19,000....

Message 3 of 6
beanie7132
Frequent Contributor

Re: Check my numbers please


@ShanetheMortgageMan wrote:

Your scores?


TU 590, EQ 657, EX 672

 

 

 

Message 4 of 6
beanie7132
Frequent Contributor

Re: Check my numbers please


@Peter1142 wrote:

@beanie7132 wrote:

How does this look?

 

USDA guaranteed

 

Purchase price: 161,900

Loan Amoutn: 165,204

 

Interest rate: 4.5% - we are 90 days out from closing. Its a new build

 

Appraisal - 500.00

Credit Report - 14.00

Processing - 150.00

Tax Cert - 87.00

Underwriting - 700.00

Wire Transfer- 30.00

Flood Cert - 8.50

Settlement - 425.00

Title Search - 250.00

Lenders title insurance - 572.00

Owners title insurance - 100.00

Recording - 35.00

MERS Registration - 11.95

Imaging fee - 17.95

USDA Guar Fee - 3,304.00

 

Lender Rebate - (2,890.00)


 

What about prepaid interest, bank attorney, buyer's attorney (I assume the attorneys are still required for new build?), state transfer taxes (not sure what applies to new build in your state), 1 year homeowner's insurance, escrows, recording charges, survey if required.

 

My closing costs in NY on $250k purchase were some-odd $19,000....


Some of those are not listed on my GFE, so I assume they arent required. 

 

There are no lines on here about attorneys or state transfer taxes. Survey is not required. The recording fee is 35.00 and listed above.

 

Maybe its easier if I list out the whole GFE, line for line? All these numbers are starting to run together. 

 

1. Origination Charge = 909.90

2. lender credit = 2,890.00

A. Adjusted Origination = (1,980.10)

 

3. appraisal = 500.00

    credit report = 14.00

    flood cert = 8.50

   USDA guar fee = 3,304.00

   tax cert = 87.00

Total = 3,913.50

 

4. title services = 1,247.40

5. owners title ins = 100.00

6. 0.00

7. recording charges = 35.00

8. transfer taxes = 0.00

9. initial escrow deposit = 475.02

@741051. daily interest - 4 days @ 20.37 = 81.48

11. homeowners ins = 800.00

B. total = 6,652.40

 

A+B = 4,672.30

Message 5 of 6
ShanetheMortgageMan
Super Contributor

Re: Check my numbers please

Looks pretty solid.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 6 of 6
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